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, chapter 1, pages 1-29, Palgrave Macmillan. 2012/271, International Monetary Fund., MIT Press, vol.
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Economic diversification is the procedure of transitioning an economy far from reliance on a single sector or source of earnings to several sectors and markets. This sort of economic shift is currently underway in the Gulf Cooperation Council (GCC) area, where Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are experiencing fast socio-economic improvement.
The GCC region is going through a transformative stage focused on economic diversification and sustainable advancement.
A strong motorist behind economic diversity and green shift strategies in the GCC is the well-documented effect of climate change in the area being experienced now and in the future. The World Bank estimates that approximately 100 million people in the Middle East, consisting of the GCC, will suffer from water tension by 2025, with portions of the area expected to end up being uninhabitable by the end of the century due to water deficiency and heats.
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